Don Logan of Time Inc. and Stephen B. Shepard of BusinessWeek to be Honored Tonight With Henry Johnson Fisher Award.

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 31, 2001

Don Logan, chairman and CEO of Time Inc., and Stephen B. Shepard, editor-in-chief of BusinessWeek, will receive The Henry Johnson Fisher Award, the magazine industry's highest honor, tonight at a gala ceremony at the Waldorf-Astoria in New York.

John Huey, managing editor of FORTUNE, and Edward Kosner, editor-in-chief of the New York Daily News, will present the awards to Logan and Shepard, respectively. The black-tie event will be attended by more than 750 magazine and media industry leaders.

The Henry Johnson Fisher Award, established in 1964 and sponsored by Magazine Publishers of America (MPA), recognizes individuals who have made significant and long-standing contributions to the magazine industry and society, and who have demonstrated extraordinary leadership, skill and understanding in support of the industry.

Don Logan was named chief executive officer of Time Inc. in August 1994. He had been serving as the company's president and chief operating officer since June 1992. Time Inc., a preeminent magazine publisher and major book publisher, as well as a leading direct marketer of books, music and videos, is a wholly owned subsidiary of Time Warner Inc.

Time Inc. publishes over 40 magazines, including Time, Fortune, Sports Illustrated, Money, People, Entertainment Weekly, In Style, Parenting, Health, Sunset, Asiaweek, This Old House, People en Espanol, Teen People, Real Simple, and the magazines of Southern Progress Corporation. Time Inc. recently acquired Times Mirror Magazines, which publishes 21 titles. Time Inc.'s consumer book publishing operations include Warner Books; Little, Brown; Oxmoor House; Sunset Books; and Time Life Inc., which, in addition to books, also markets music, videos and children's educational projects. Time Inc.'s Book-of-the-Month Club unit and Double Day Direct (owned by Bertelsmann AG) have a partnership, BOOKSPAN, which operates 50 general consumer, special interest and professional book clubs.

Mr. Logan was previously chairman and chief executive officer of Southern Progress Corporation in Birmingham, Alabama, which he joined in 1970. Southern Progress, a subsidiary of Time Inc., is the publisher of Southern Living, Progressive Farmer, Cooking Light, Southern Accents, and Coastal Living magazines.

In the past, Mr. Logan has served on several boards, including the National Book Foundation and the Civil Rights Institute, and he has been a trustee of Samford University. He currently is a member of the Board of Directors of Magazine Publishers of America and of First Health Group Corp., a managed care organization in Downers Grove, Illinois.

A native of Hartselle, Alabama, Mr. Logan graduated magna cum laude with a degree in mathematics from Auburn University. He earned a master's degree in mathematics from Clemson University. Married to the former Sandra Tuten, the Logans have two married sons, Jeff and Stan.

Stephen B. Shepard is editor-in-chief of BusinessWeek, a position he has held since November 1984. Mr. Shepard began his journalistic career as an editorial trainee at The McGraw-Hill Companies, BusinessWeek's parent, in 1963. He moved to BusinessWeek in 1965 as an editor, serving in various domestic and international posts for ten years. He was also an adjunct professor at the Columbia University Graduate School of Journalism from 1970 to 1975, as well as the founder and director of the school's prestigious Walter Bagehot Fellowship in Economic and Business Journalism. From 1976 to 1981, Mr. Shepard was a senior editor at Newsweek, in charge of its national affairs coverage. From 1981 to 1982, he was the editor of Saturday Review. In November 1982, he returned to BusinessWeek as executive editor; two years later he was named editor-in-chief.

BusinessWeek has been nominated for the National Magazine Award for General Excellence eight times while Mr. Shepard has been editor-in-chief, winning the award in 1994 and 1996. Mr. Shepard is also the recipient of several journalism awards and honors, including the National Magazine Award, the Sigma Delta Chi Headliners Award, the University of Missouri Award, and the Townsend Harris Medal given by the City College of New York for his more than 25 years of journalistic excellence. In 1988, he was selected by the editors of Adweek magazine as "Editor of the Year." He is also the author of several freelance articles that have appeared in The Atlantic and The New York Times Book Review, and served as a commentator on PBS's "Nightly Business Report." In 1992, Mr. Shepard was elected president of the American Society of Magazine Editors (ASME), a position he held until April 1994. In 1999 he was inducted into the American Society of Magazine Editors' "Hall of Fame," and also received the Gerald M. Loeb Foundation Lifetime Achievement Award for business journalism. He presently serves on the Board of Visitors at the Columbia University Graduate School of Journalism.

Mr. Shepard received his bachelor's degree from the City College of New York in 1961, and was awarded an M.S. from Columbia University in 1964. He lives in New York City with his wife, Lynn Povich. They have two children, Sarah and Ned.

Magazine Publishers of America (MPA) is the industry association for the consumer magazine business. Established in 1919, the MPA represents more than 240 domestic publishing companies with approximately 1,400 titles, more than 80 international companies and more than 100 associate service providers. Staffed by magazine industry specialists, the MPA is headquartered in New York City, with an office of government affairs in Washington, D.C.